BRC, Chargebacks911 to support retailers struggling with payment disputes

Wednesday 24 July 2019 13:36 CET | News

British Retail Consortium (BRC) has teamed up with dispute processing and remediation company, Chargebacks911, to help its members understand how to fight friendly fraud and chargebacks.

The partnership aims to slow the rapid growth of chargeback rates which continue to negatively impact retailer profits – UK online transactions grew by 7.5% in 2018 alone, while related chargebacks rose by 23%.

In their new report, Going head-to-head with friendly fraud, Chargebacks911 and the BRC explore why the retail industry is being hit with more chargebacks than ever before, how financial institutions are adapting, and what retailers can do about this GBP 100+ billion problem.

Discussing the issue, Monica Eaton-Cardone, COO and co-founder of Chargebacks911, explained: “So far this year, there have been over 140 rule changes surrounding the chargeback dispute process. Retailers were already struggling to understand how to handle disputes, but now it’s even more difficult to keep up – and they’re facing penalties and loss of revenue as a result”.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: BRC, Chargebacks911, chargebacks, payments disputes, friendly fraud, partnership
Countries: World